CB&I Completes Shaw Group Acquisition

  CB&I Completes Shaw Group Acquisition

Business Wire

THE WOODLANDS, Texas -- February 13, 2013

CB&I (NYSE: CBI) announced today that it has completed the acquisition of The
Shaw Group. CB&I and Shaw shareholders overwhelmingly approved the transaction
in December 2012.

“We are extremely pleased that the transaction to acquire Shaw is officially
complete and we thank the shareholders for their support,” said Philip K.
Asherman, President and CEO of CB&I. “With the close of the transaction, CB&I
is the most complete energy infrastructure focused company in the world.
Through our now 50,000 talented employees, we have the capabilities and the
expertise to provide our clients with a world of solutions, and a tremendous
strategic advantage in responding to the growing demand for energy
infrastructure around the globe.”

About CB&I

CB&I (NYSE: CBI) offers a world of solutions to our customers in the energy,
natural resources, environmental and infrastructure markets. Drawing upon more
than a century of experience and the expertise of approximately 50,000
employees worldwide, CB&I provides reliable solutions while maintaining a
relentless focus on safety and an uncompromising standard of quality. For more
information visit www.CBI.com.

Important Information For Investors And Shareholders

Cautionary Statement Regarding Forward-Looking Statements

This press release contains forward-looking statements regarding CB&I and
represents our expectations and beliefs concerning future events. These
forward-looking statements are intended to be covered by the safe harbor for
forward-looking statements provided by the Private Securities Litigation
Reform Act of 1995. Forward-looking statements involve known and unknown risks
and uncertainties. When considering any statements that are predictive in
nature, depend upon or refer to future events or conditions, or use or contain
words, terms, phrases, or expressions such as “achieve”, “forecast”, “plan”,
“propose”, “strategy”, “envision”, “hope”, “will”, “continue”, “potential”,
“expect”, “believe”, “anticipate”, “project”, “estimate”, “predict”, “intend”,
“should”, “could”, “may”, “might”, or similar forward-looking statements, we
refer you to the cautionary statements concerning risk factors and
“Forward-Looking Statements” described under “Risk Factors” in Item 1A of our
Annual Report filed on Form 10-K filed with the SEC for the year ended
December 31, 2011, and any updates to those risk factors or “Forward-Looking
Statements” included in our subsequent Quarterly Reports on Form 10-Q filed
with the SEC, and in our Form S-4 filed with the SEC on November 20, 2012,
which cautionary statements are incorporated herein by reference.

Contact:

CB&I
Media: www.CBI.com
Investors: Christi Thoms, +1 832 513 1200
 
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